See full version: The Real Cost of Owning a Business Jet
Depending on your budget, age or size of the aircraft you need and more – the initial purchase price can vary tremendously. It’s also important to note that most owners switch jets every four to five years, much like car owners.
I’m going to try to stick with my original five-part agenda—initial purchase price; maintenance and operating costs; insurance; parking; and upgrades/add-ons. But as we shall see, owning a business jet, doesn’t quite match up in all the categories. I’ll explain more on that later.
With the Skyhawk all we had to worry about were fuel, oil, engine reserves and landing fees. But now we have crew salaries and benefits including a flight attendant. And once you’re flying with an aircraft of this size, a lot of other fixed and variable costs come into play such as APU allowance, navigation chart service, computer maintenance and catering, to mention just a few. Let’s not get bogged down in details and just say that our total cost of ownership per year, for a Gulfstream G450 is roughly $4 million. This is based on 423 hours of usage per year. This does not include insurance or parking which I’ve broken out separately to go along with my Cessna 172 analysis. here
Well, clearly you’re not going to leave our multi-million dollar investment out in the rain — or, here in Arizona, in the sun—so we can count on a hangar fee of around $81,000 per year. If you want to park your plane at a large, international airport, such as Los Angeles International Airport (LAX), you may pay closer to $160,000 a year or $12,000 a month. here
The annual cost of owning a jet depends on financing, hangaring, flying time, insurance, upgrades, and other costs. Also, your costs will depend on your maintenance schedule, repairs, and flying style. For example, fast steep ascents burn more fuel than less aggressive maneuvering. more
Upfront private jet cost includes the down payment or the full purchase price. If financed, you’ll pay closing costs, and perhaps an aircraft broker’s fee. Naturally, the more upgrades and add-ons you choose, the higher the private jet cost of purchase. Depending on the model of private jet you purchase, you might pay extra for items. For example, these may include:
Several factors figure into the private jet cost of purchase. For example, these include:
Part of the cost includes aircraft operation. There are many operational costs you’ll face when you buy a private jet.
Nearly all private jets are classified as “large aircraft” by the FAA when they are built. One of the certification requirements for these aircraft is that they must have two pilots. So, many planes need to have two pilots to fly legally, regardless of who owns them or how they are being operated.
Private plane cost for round trip flights. here
Reality star Kim Kardashian West falls to the bottom of the list, only spending around $730,000 (R11,2 million) on her chartered private jets. Dubbed “the flying Whitehouse”, one jet will cost roughly $9,250,000 per year to run, based on 400 flying hours. here
To fly private on a regular basis, it’s best to have both a $1+ million annual income and $25+ million net worth. In years when your income drops below $1 million, even if you still have a $25 million net worth, fly commercial instead. more
No shade,but I didn’t think saweetie could afford a jet.— A. (@billie_jeaan) December 22, 2020[links]
However, some are speculating that Quavo bought it…
There are ongoing expenses which need to be accounted for too, as you may also be paying for flight crew salaries, expenses, maintenance, repairs, insurance, hangar rental… you get the picture.
As noted by Investopedia, a private jet can cost anywhere from $2 million to over $100 million.
Perhaps Saweetie is leasing the jet we saw on Instagram long-term. more